Auctions End Too Late

[seablaster]

Put me down for lot by lot endings in our straw poll.

Ending times going into 5-6 am EST range is unreasonable.

[x2drich2000]

One of the more interesting ideas I've seen from an auction house is the changing buyers premium. All the lots close at the he same time, but as the evening goes on, the buyers premium for new bids gradually increases. By doing this you encourage earlier max bidding (if you put in a max bid early and someone else bids late causing your bid to automatically increase you still get the lower buyers premium, but if they end up winning they pay a higher premium), but still give the option to keep bidding open.

DJ

[bn2cardz]

Originally Posted by Al C.risafulli

As a bidder, this is how I bid. I've got a budget, and sometimes I'm interested in more than one item in the auction. With auctions that close lot-by-lot, I lose the flexibility of being able to re-allocate money within my budget to other lots as I get outbid. I have won numerous lots in auctions this way over the years, and thus I prefer auctions that close all at once.

-Al

This was my thinking on why I wasn't for lot-by-lot when B-L first used this, but I have since changed my mind because the "flexibility" is a myth. There is no flexibility if you are unable to stay up. When I lost out on one of my lots I would have switched my bid to another card in LOTG, but I wasn't awake when it happened at 1:15am Central. So either way my money didn't get reallocated.

[GaryPassamonte]

Why not run sports auctions using the live internet lot by lot format used by most antique auctions? Internet bids could start about a week or two before the live auction. The live auction could start at a time convenient for both coasts and be over in a matter of hours. This format is fair for everyone and has a defined beginning and end.

[bn2cardz]

Originally Posted by GaryPassamonte

Why not run sports auctions using the live internet lot by lot format used by most antique auctions? Internet bids could start about a week or two before the live auction. The live auction could start at a time convenient for both coasts and be over in a matter of hours. This format is fair for everyone and has a defined beginning and end.

This sounds like how Bagger's does it.